Sri Lanka: Market for Plastic Doors, Windows And Their Frames 2024

Market Size for Plastic Doors, Windows And Their Frames in Sri Lanka

In 2022, the Sri Lankan plastic doors and windows market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption saw a abrupt decline. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Plastic Doors, Windows And Their Frames

Exports from Sri Lanka

After four years of growth, overseas shipments of plastic doors, windows and their frames decreased by -91.7% to X units in 2022. Over the period under review, exports showed a sharp contraction. The pace of growth appeared the most rapid in 2015 with an increase of 1,575%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plastic doors and windows exports shrank significantly to $X in 2022. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 548%. Over the period under review, the exports reached the maximum at $X in 2021, and then fell significantly in the following year.

Exports by Country

Maldives (X units) was the main destination for plastic doors and windows exports from Sri Lanka, with a 85% share of total exports. Moreover, plastic doors and windows exports to Maldives exceeded the volume sent to the second major destination, Singapore (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Maldives stood at -9.2%.

In value terms, Maldives ($X) remains the key foreign market for plastic doors, windows and their frames exports from Sri Lanka, comprising 92% of total exports. The second position in the ranking was held by Singapore ($X), with a 5.5% share of total exports. It was followed by India, with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives stood at -7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (0.0% per year) and India (-40.9% per year).

Export Prices by Country

The average plastic doors and windows export price stood at $X per unit in 2022, surging by 53% against the previous year. In general, the export price recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 when the average export price increased by 166% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+42.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastic Doors, Windows And Their Frames

Imports into Sri Lanka

In 2022, approx. X units of plastic doors, windows and their frames were imported into Sri Lanka; which is down by -38.7% against the year before. Over the period under review, imports recorded a precipitous setback. The pace of growth was the most pronounced in 2019 when imports increased by 105%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, plastic doors and windows imports expanded remarkably to $X in 2022. Overall, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 93%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X units), South Korea (X units) and Taiwan (Chinese) (X units) were the main suppliers of plastic doors and windows imports to Sri Lanka, together comprising 53% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +49.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic doors and windows suppliers to Sri Lanka were South Korea ($X), the United States ($X) and China ($X), together accounting for 40% of total imports.

Among the main suppliers, South Korea, with a CAGR of +126.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average plastic doors and windows import price amounted to $X per unit, growing by 86% against the previous year. Overall, the import price recorded significant growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by 106%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+99.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :